India's Rajratan Global Wire rises after quarterly profit, revenue jump
BUZZ-India's Rajratan Global Wire rises after quarterly profit, revenue jump ** Shares of India's Rajratan Global Wire RAJR.NS jump 4.26% to 509.10 rupees
** Co posted a 69.82% year-on-year rise in June quarter consolidated net profit to 229.6 million rupees ($2.39 million)
** Co's Q1 revenue rose also jumped 29.14% year-on-year
** Investec ("buy", TP:600 rupees) says management's initiatives over the past year are driving gains and a richer product mix should support stronger spreads
** Says Chennai, Thailand and Pithampur facilities offer brownfield expansion opportunities, with customer approvals in place supporting an attractive return profile as capacities are scaled
** YTD stock up 9.34%
($1 = 95.9100 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))
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